Katz Media Group & Interep Join Forces To Develop RadioInvoices.com.

Katz Media Group and Interep announced that they have joined forces to develop RadioInvoices.com, a central e-business website that will provide a one-stop radio invoice delivery system. Scheduled to launch at the end of June, RadioInvoices.com allows both companies to upload radio invoices on behalf of their clients to a secure facility that will be accessed by registered agency personnel.

Marc Guild, President of Interep’s Marketing Division, said, “While Interep has been developing RadioExchange – Interep’s electronic invoicing system – and Katz has been developing their solution, it is clear that the industry has been demanding a single standard for our medium. We are now very pleased to be working with Katz Media in this important area. As agencies and advertisers ask for enhanced accountability from all media, the ability of radio to provide a single source for electronic invoicing is vital to the continued growth of our medium.

According to Stu Olds, CEO of Katz Media Group, “Both rep firms have been making strides in developing and implementing electronic capabilities that simplify the radio invoicing process, but RadioInvoices.com, in particular, is a monumental step for the entire radio industry. By joining forces, we’re demonstrating our commitment to an industry-wide focus on using technology to improve the efficiency of the medium.”

RadioInvoices.com is non-proprietary, and has been developed with the intention of helping all parties involved in the media buying and selling process to reduce both processing costs and errors. Electronic communication has been embraced by the radio industry, adding value to the business process, and ultimately creating more time to strategize business plans.

David Prager, Katz Media Group’s CIO, has first-hand experience implementing the company’s electronic invoicing solutions. “The number of agencies using our capabilities of electronic invoicing has increased steadily month-by-month. For the March Broadcast Month alone, we will deliver approximately 2,100 spot invoices and a similar number of unwired affidavits electronically. As station participation increases we will be delivering that many more invoices.”

Chris Rohleder, Interep’s VP/Information Services, added, “Interep’s electronic invoicing technology is now in use by eight major broadcasters and the feedback from both stations and agencies has been exceptional. The system is easy to use, and the benefits are instantly recognizable. The widespread use of electronic invoicing will save our industry millions of dollars each year in lost revenue due to errors. The adoption of such a system is essential for the long-term growth of radio, and we look forward to working with Katz to further advance the use of this technology.”